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Following is the transcript of the media session by the Chief Executive, Mr Tung Chee Hwa, after his visit to Wan Chai and Eastern Districts this (October 1) afternoon:

Reporter: Chinese leaders Qian Qishen and Zhu Rongji have said they would help Hong Kong . . .What do you think they should do to help the SAR?

Mr Tung: Well, as I said in Chinese just a minute ago, the leadership in the Central Government really do care very much about what is happening in Hong Kong and wish Hong Kong all the best. You can see this all the way through how the central leadership has supported the establishment of "One Country, Two systems" here in Hong Kong. Basically, the fact is that Mainland China is really doing very well economically amidst the downturn everywhere. In Hong Kong, we have the unique advantage which all the other Asian economies and countries are very envious, that is, we are all in this very special position. We have taken advantage of China's moving forward and we would take advantage of the further development in the days and months and years to come.

Reporter: In your conversation with the retailers today, did they talk to you about some of the problems and hardships they are facing? Is there going to be anything in your Policy Address perhaps to address these economic hardships?

Mr Tung: I talked to them about their businesses. Some are doing well. Others feel the downward pressure. They are obviously concerned because there are lots of external uncertainties around the world and how would that affect Hong Kong. They are all working very hard and they want to make it work. And this is the true Hong Kong spirit. That's what going to take Hong Kong forward. I am very confident and I know they are very confident, too. So far as the second question is concerned, when it comes, you'll know about it.

(Note: Please also refer to the Chinese portion of the transcript)

End/Monday, October 1, 2001

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